727 Boyd RdAzle, TX 76020

Property Details for 727 Boyd Rd

Year built

2022

Lot size

0.57 AC

Property size (Sq ft)

2,250 SF

Property type

Drive through restaurants

APN

3154F-1-1A1

APU

3154F11A1

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,191 square foot Starbucks located in Azle, Texas. The property, built in 2022, sits on a 0.565-acre lot and boasts 32 parking spaces, including an 8-car stack drive-thru. Strategically positioned as an outparcel to a Walmart Supercenter, this location benefits from high traffic counts exceeding 25,000 vehicles daily on Boyd Rd (FM-730), and significant additional traffic on nearby TX-199 and Commerce Street. The property features a modern design and enjoys a 100% occupancy rate under a corporate-guaranteed, Net Lease with Starbucks Corporation (NASDAQ: SBUX). The lease commenced September 5th, 2022, and has a remaining term of 8.3 years, with four additional 5-year renewal options. Rent bumps of 10% every five years provide a strong hedge against inflation. The property's strong demographics, with over 38,000 people within a 5-mile radius and an average household income exceeding $112,000, further enhance its investment appeal. The current Net Operating Income (NOI) is $127,200, representing a 5.50% cap rate on the asking price of $2,312,727. The property is zoned Commercial (HC) and offers significant upside potential given the area's robust growth trajectory, projected to increase by an additional 3.33% by 2027. This is a rare opportunity to acquire a high-quality, income-producing asset in a prime Texas location.

• CAP approach

  CAP return

  Valuation

  6%

  $626,703

  6.5%

  $578,495

  7%

  $537,174

• Comparable approach

  Method

  Valuation

  Relative Method

  $655,043

  Geo Method

  $883,600

• Alternative Use

  Use

  Valuation

  Residential

  $487,982

  Hospitality

  $446,989

  Educational

  $371,890

  Medical

  $384,680

  Retail

  $578,495

Location Insight

City

Azle

County

Tarrant

State

Texas

Latitude

32.9043

Longitude

-97.5441

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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